Can Customer Experience Management save the banking sector´s image?

Written by Silvana Buljan for Buljan & Partners Consulting

Imagine you lose all your hardly earned savings you invested in promising financial products, that were sold to you not informing you about the risk or just by blurring your eyes with promises that could not realistically be fulfilled… It is true that the responsibility is shared: the bank you trusted in has not been transparent in transactions, and you were looking for a high ROI without analyzing in depth the risk that these kind of products have. The fact is though that you are furious about your bank, and the client manager dealing with your money, and the government because they did not prevent this from happening, and and and.

You feel betrayed. And lost because suddenly life as retired person in the future has another image than the one that you were working on. What could the bank do to not lose you as customer? What would YOU make trust them again?

We live in financial times, yes, but we also live in a society whose “rules of the game” are being redefined / reinvented / questioned. Have we missed a fundamental discussion on such basic things like ethics or human values? Every citizen knows that a bank is making money with his money, it´s part of a bank´s business model. And every citizen knows that borrowing money is more expensive than lending it. That´s fair and nobody complains. But is it fair to not offer any recovery if things work out differently than thought? Definitely the money lost in your individual case is “peanuts” for the bank, but still you are the one taking over 100% of responsibility as you signed a “carte blanche” regarding liability rules.

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Financial times – Are you ready for a meeting with your CFO?

Written by Christian Kohler for Buljan & Partners Consulting

Do you really know the Return of Investment (ROI) of your Customer Centric Management (CCM) activities?

On my last business trip to Germany I was reading an interesting article about the credit crunch which is affecting many companies in Europe at the moment, and which makes continuous innovation and growth so difficult in almost every industry.

We are definitely living in financial times and access to capital becomes more and more crucial for the prosperity of our economy, for many companies it turns out to be a key element to survive this deep crisis we are facing in the European Union.

“ROI is Key”

For CEOs, CFOs and other Top Managers the current situation means to take tough decisions, because the importance of corporate solvency, cash flow development and of the general debt strategy is rising. The Return of Investment (ROI) of every strategic initiative is turning into a key consideration for the management. All departments have to justify in detail all investments and cost items of their budgets. Projects or initiatives without clear objectives, assumption of their impact on revenues, profit or costs are rejected before even appearing on the board meeting agenda.

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